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trillion in unfunded liabilities with medicare and social security. at some point, now or later, right? >> absolutely. clearly though concessions will need to be made on both sides in this negotiation. what would you say each side needs to give up to make this happen to get this done? >> obviously, the democrats have to give up entitlements to some degree and the republicans have to lighten up on its defense. we spend more than the top ten countries in the world on defense over $1 trillion. so i think we spend six times more than china currently. like russia may have done in the old days, we may spend ourselves into obsoleteness. >> if we avoid the cliff are we putting a band-aid on bigger issues such as social security spending? obviously, something needs to be done to fix this for the future. >> right. the priorities of our country, who pays for it and how much government to we want? that's lining up republicans on one side, the democrats on the other. the differences have never been so stark. it's kind of a shirts and skins game in washington, as you know. 50/50 and this election wa
sticking points, how to bring in more tax revenue and reduce things like medicare. but it's not clear when the president and lawmakers will meet next. and even if some progress is made this week, a final deal could still be a long way off. >> we rarely see the hill and the white house make decisions ear early. they tend to do bet when they have a deadline. i would be pleasantly surprised to see a deal emerge earlier ler than the end of the year, but we'll see. >> reporter: senate majority leader harry reid said before the break that they hoped to have another meeting with the president this week. randi? >> athena jones, thank you very much. the fiscal cliff wasn't on the president's mind while he was out christmas shopping though the reporters tried to ask him about it. the president and this daughter sasha and malia stopped by. the president bought 15 children's zbiks to be given to family and friends. the president's daughter sure to be sad about this next one. their beloved justin bieber is losing the top spot on youtube. korean top star psy now has the most watched video on youtube eve
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